Connect with us

Hi, what are you looking for?

Jewish Business News


NovoCure files for $300 Million IPO

NovoCure, a commercial-stage oncology company developing monotherapy treatments for glioblastoma brain cancer,

NovoCure, a commercial-stage oncology company developing monotherapy treatments for glioblastoma brain cancer, filed on Monday with the SEC to raise up to $300 million in an initial public offering.

The product was developed by Prof. Yoram Palti from the Technion Israel Institute of Technology and includes a helmet that broadcasts electric fields from electrodes placed on the scalp. The treatment requires patients to wear the helmet most of the day as these fields disrupt cell multiplication, and can therefore halt or slow a tumor’s development non-invasively in a painlessly menner .

Things has been running fast lately. In November 2014, the company had an early Phase III trial halt for efficacy for its Optune in combination with chemotherapy for patients with newly diagnosed glioblastoma.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Six months later, In April, it submitted a PMA application for the device as a first-line treatment; it has been FDA-approved since 2011 for its use as a monotherapy on glioblastoma recurrence after chemotherapy.

Just a month later, in May, the application gained priority review status –meaning an FDA decision could come before year end.

The company has raised $473 million to date, and had $106 million in cash as of the end of June.

The Jersey-based company, which was founded in 2000 and booked $20 million in sales for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol NVCR. J.P. Morgan, Deutsche Bank and Evercore Partners are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Brain games: NovoCure files for a $300 million IPO originally appeared on IPO investment manager Renaissance Capital‘s web site .





You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.